yeah it’s interesting. I think 40% of shares are in the hands of...

yeah it’s interesting. I think 40% of shares are in the hands of those who have skulled the cool-aid (including the big one that you refer to who has a 10% blocking stake) who would hold out at very low prices.

The question for me is what price would be motivating for 50-70% of shareholders (that would be the target for me if I was going hostile). As we see on these threads, there’s a lot of disgruntled shareholders who participated in the raise - so anything over $3 probably starts to get decent traction. (*I do realise that is embarrassingly low for many on here).

(Note to self: after writing the above it is clear that Index and JDP were correct as expected. IMO a price of $3 - $5 would be recommended by the board and independent expert report, and likely get good shareholder acceptance. Management would not get the chance to execute the plan and knock it out of the park for a $xx double digit share price. I’m a little frightened now of a hostile bid before grand final day).